Target to lower prices on basic goods in response to inflation
Target plans to cut prices on thousands of consumer basics this summer, from diapers to milk, as inflation cuts into household budgets and more Americans pay closer attention to their spending.
The price cuts, already applied to 1,500 items, will eventually include 5,000 food, drink and essential household goods. Target and other retailers are increasingly catering to customers who are struggling with higher prices for groceries, though inflation has begun to cool. Many of them have switched to private label brands sold by Target and others big retailers, which are typically less expensive than well-known brands.
Target launched one such collection in January called Dealworthy which includes nearly 400 basic items, ranging from clothing to electronics, that can cost less than $1, with most items under $10.
Last week, McDonald’s said that it was planning to introduce a $5 meal deal in the U.S. next month to counter slowing sales and customer frustration with higher prices. Walmart posted strong quarterly sales last week driven by a influx of customers, including households with incomes of more than $100,000, looking for bargains.
Related articles
Revealed: Brit tourist, 19, subjected to sex attack in Majorca 'was gang
A 19-year-old British tourist who was subjected to a horrific sex attack in Majorca 'was gang-raped2024-05-21Apple makes a major change that makes it significantly cheaper and easier to repair broken iPhones
If you're always breaking your iPhone, a new Apple update will make it much cheaper and easier to fi2024-05-21Gladiator II: Paul Mescal battles Pedro Pascal in first footage from Ridley Scott's highly
Paramount Pictures unveiled five minutes of unfinished footage from the highly-anticipated sequel Gl2024-05-21Geena Davis, 68, wows in a figure
Geena Davis turned heads in a figure-hugging ensemble as she accepted the Viola Davis Trailblazer ho2024-05-21Strictly star Giovanni Pernice's former partner Rose Ayling
Giovanni Pernice has been dealt a fresh blow after friend and former Strictly dance partner Rose Ayl2024-05-21Harry Styles and Niall Horan soak up the action at The Masters with the Love on Tour star watching 6
Every golf fan in the world is desperate to get their hands on a ticket to Augusta National to soak2024-05-21
atest comment